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Treasury has announced the commencement of a grants scheme, named along the lines of other recent initiatives, called HomeBuilder. The grant scheme provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially...

Last-minute tax planning tactics

The COVID-19 period in everyone’s life continues, and as time goes by more issues keep arising regarding certain tax matters. One such issue, which the ATO has realised may be a concern, is the changed rental property market, and the...

Tax & Super Australia Article – Can a JobKeeper business change its ‘Eligible business participant’?

Subject to certain eligibility criteria, the JobKeeper rules allow entities to nominate an individual who is actively engaged in the business to be the entity’s “eligible business participant”. In doing so, the business will receive JobKeeper support of $1,500 per...

The ATO has announced an important tax residency concession for foreign incorporated companies during the COVID-19 crisis. Background On 24 March 2020, the government announced a ban on Australians travelling overseas, using powers given to it under the Biosecurity Act 2015....

Tax & Super Australia Article – The realities of the cash flow boost

Now that some businesses have lodged their March activity statements, the much anticipated cash flow boost has started to be received (not offset against any tax liabilities either, as was initially a possibility). The cash flow boosts (there is to...

The ATO has been charged with running the JobKeeper Payment scheme, which is intended to support businesses that are financially affected by COVID-19 to help keep their staff employed. Your employer clients will be required to pay their eligible employees...

Supporting you in uncertain times COVID-19

As the COVID-19 situation continues to evolve, we want to update all of our clients on how KHCA is responding to these challenging and unprecedented times. We understand that simplicity, connectivity and automation has never been as important as they...

A set of bills now in Parliament, otherwise known as an omnibus bill, spells out the government’s response to the COVID-19 crisis. Schedule 13 of the omnibus bill amends the SIS Regulations and RSA Regulations to allow individuals affected by the coronavirus...

As part of the government’s coronavirus response package, it has provided for the ATO to give administrative relief for some tax obligations for people affected by the coronavirus outbreak, on a case-by-case basis (see more here). Business operatives affected by...

As 99.99% of practitioners will be aware, the ATO is transitioning how tax professionals access its online services, from AUSkey to myGovID and Relationship Authorisation Manager (RAM). From the morning of Monday 16 March, how practitioners access the Departing Australia Superannuation...